Azerbaijan's oil production can be increased

Azerbaijan, Baku, Jan 10 / Trend E.Ismayilov, I.Isibalayeva/ Azerbaijan's oil production can be increased to 60-65 million tons per year, the head of the Institute of Geology of ANAS Akif Alizadeh told reporters on Tuesday. "Azerbaijan produces 50 million tons of oil annually. I think that although these volumes will remain, it is possible these figures will increase to 60-65 million tons," Mr Alizadeh said. He added that studies show that there are large gas and oil reserves in the south of the Azerbaijani sector of Caspian Sea and in it is planned to develop them in the future. State Oil Company of Azerbaijan (SOCAR) authority has repeatedly pointed out that the optimal amount of oil production in Azerbaijan is 50 million tons per year. Do you have any feedback? Contact our journalist at agency@trend.az